Grab (NASDAQ:GRABW) Shares Down 5%

Shares of Grab Holdings Limited (NASDAQ:GRABW) were down 5% during mid-day trading on Wednesday . The company traded as low as $0.16 and last traded at $0.17. Approximately 18,307 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 28,044 shares. The stock had previously closed at $0.18.

Grab Stock Down 8.0 %

The stock has a 50 day moving average price of $0.20 and a 200-day moving average price of $0.21.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently bought and sold shares of GRABW. Wolverine Asset Management LLC raised its holdings in Grab by 216.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 101,576 shares of the company’s stock worth $35,000 after purchasing an additional 69,488 shares during the period. Walleye Capital LLC bought a new position in Grab in the 3rd quarter worth $102,000. Finally, Altimeter Capital Management LP bought a new position in Grab in the 4th quarter worth $788,000.

Grab Company Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.